White Stuff dances to happier high street tune

White Stuff, the casual clothing retailer, bucked the slowdown on the high street by unveiling strong sales growth as it looks for a minority investor to fuel its expansion plans.

The retailer said sales rose 39pc to £43.8m in the year to April 26 after the company launched eight new stores, taking its estate to 49 sites. Operating profits hit £6.9m on a 7pc rise in like-for-like sales.

Sally Bailey, White Stuff's chief executive, said: "These are excellent results delivered against the backdrop of a difficult year for retail. All avenues to market - wholesale, retail and home shopping - increased sales and margin on the year."

The strong results come as KPMG today sends out sale information to potential buyers as White Stuff founders George Treves and Sean Thomas look to reduce their 80pc stake in the company.

Ms Bailey said the company needs further investment to finance its target of having 75 stores in the UK within three years. Further expansion internationally, and growth in White Stuff's home shopping business, is also on the cards.

"We want to secure a minority investment from the private equity community," Ms Bailey said. She refused to confirm how big a stake the founders are willing to sell.

Sales continue to be strong, Ms Bailey said, and White Stuff had just enjoyed its third-strongest week ever. "We are cautiously optimistic."